Sector Update: Health Care


Health-care shares were generally higher in pre-market trade Tuesday.

In health-care stocks news, Astrazeneca ( AZN ) gets cleared in a Department of Justice investigation into PLATO, a major clinical trial used to win marketing approval for the company's important new heart drug Brilinta.

AZN said the DOJ closed the probe into the 18,000-patient study and no further action was planned.

Separately, the company reported positive results with an experimental antibiotic called ceftazidime-avibactam as a treatment for hospitalized adult patients with complicated intra-abdominal infections.

And, Actavis ( ACT ) confirmed positive topline results from RECLAIM-1 and -2, pivotal Phase III studies evaluating the potential for the investigational antibiotic, ceftazidime-avibactam as a treatment for adult hospitalized patients with complicated intra-abdominal infections.

ACT trades in a 52-week range of $130.06 to $230.77, with shares having closed up 1.2% in Monday's session.

Finally, Medtronic ( MDT ) reported Q1 adjusted EPS of $0.93, a penny ahead of the analyst consensus on Capital IQ.

Revenue was $4.27 billion, just topping the Street consensus of $4.24 billion.

For the FY, the company reaffirmed it expects adjusted EPS of $4.00 to $4.10 and revenue growth of 3% to 5%. The Street stands at $4.03 per share in earnings on $18.1 billion in revenue.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: AZN , ACT , MDT

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